Maybe it’s all down to presentation, but no-one seems to have thought much of Rishi’s ‘moment to shine’. There were some good headlines there. National Insurance is still going up, but so is the amount you have to earn before you pay it. Making that the same as income tax at last simplifies things a bit. Petrol will be 5p cheaper than it was yesterday, although it’s already 25p more expensive than it was last month (so I hear from those still driving petrol cars). And income tax down by 1p in a year or two. I can’t help feeling, though, that we’re already on the election trail. And that whoever wins in a couple of years will be left with the really tough gig.
“HMRC scraps plans to tax pensions after death”
A couple of other Statement Highlights (in my world, anyway). A welcome ‘nothing happened’ on the treatment of pensions on death. They were never going to be liable to IHT (too complicated with trusts and trust law) but there was talk of making them income-taxable on the recipients at whatever age you die.
